September 17, 2014

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CFPB Issues Updated Compliance Guides, Disclosure Timing Example, and Presents Webinars

On September 16, TLTA sent out a Consumer Financial Protection Bureau (CFPB) Update outlining recent developments including updated compliance guides, a calendar demonstrating the RESPA-TILA rule’s disclosure timing requirements for a sample real estate purchase transaction, and webinars that take an in-depth look at the TILA-RESPA Integrated Disclosures.

You can see the CFPB update in its entirety here.

CFPB Chief:  Prepare for New Mortgage Regs

The Hill | September 10, 2014

The head of the Consumer Financial Protection Bureau on Wednesday previewed the next set of mortgage-related regulations coming down the pike, putting the financial industry on notice that compliance is expected by next summer.

The forthcoming regulations center on disclosure forms mortgage lenders are required to give borrowers during the application process and again during the closing stage of the agreement.

A final rule set to take effect next August is meant to streamline the process by replacing multiple overlapping forms with a single form to be given to consumers upon application and at closing, CFPB Director Richard Cordray said. Read More »

Former CFPB Counsel Talks Disclosure Forms

RESPA News | September 11, 2014

Former Consumer Financial Protection Bureau Senior Counsel Richard Horn took time Wednesday, September 10, to walk webinar attendees through the Loan Estimate form that he helped create.

Horn led the final rulemaking for the integrated disclosures, as well as the design and consumer testing of the integrated disclosures forms.  He said the goal of the process was to help the industry as well as consumers.

You can view his comments on the free hour-long webinar, hosted by Ellie Mae and Product Compliance Enablement Manager John Haring here.  Read More »

Upcoming Hot Topic Webinars

Recent Texas Title Insurance and Escrow Cases
Thursday, September 18 | 10:30 - 11:30 a.m. CDT
Presented by:
Jerel J. Hill, Attorney at Law
Richard Melamed, Attorney at Law
Live Version | On-Demand Version

Are You Afraid of (the) Commitment?
Tuesday, September 23 | 10:30 - 11:30 a.m. CDT
Presented by:
Stephen R. Streiff, Southwest Legal Division Manager, Old Republic National Title Insurance Company
Live Version | On-Demand Version